Best Buy Co., Inc. (BBY) Position Raised by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its stake in shares of Best Buy Co., Inc. (NYSE:BBY) by 66.8% during the second quarter, Holdings Channel reports. The firm owned 81,188 shares of the technology retailer’s stock after buying an additional 32,516 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Best Buy Co. were worth $4,732,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BBY. Vanguard Group Inc. increased its position in Best Buy Co. by 4.0% in the first quarter. Vanguard Group Inc. now owns 32,613,654 shares of the technology retailer’s stock valued at $1,602,962,000 after buying an additional 1,241,888 shares during the period. BlackRock Inc. increased its position in Best Buy Co. by 1,859.1% in the first quarter. BlackRock Inc. now owns 20,064,628 shares of the technology retailer’s stock valued at $986,174,000 after buying an additional 19,040,478 shares during the period. JPMorgan Chase & Co. increased its position in Best Buy Co. by 6.5% in the first quarter. JPMorgan Chase & Co. now owns 14,724,133 shares of the technology retailer’s stock valued at $723,692,000 after buying an additional 898,300 shares during the period. State Street Corp increased its position in Best Buy Co. by 1.9% in the first quarter. State Street Corp now owns 13,700,994 shares of the technology retailer’s stock valued at $673,407,000 after buying an additional 250,469 shares during the period. Finally, American International Group Inc. increased its position in Best Buy Co. by 1.3% in the first quarter. American International Group Inc. now owns 10,846,704 shares of the technology retailer’s stock valued at $533,116,000 after buying an additional 142,042 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Best Buy Co., Inc. (BBY) opened at 60.67 on Thursday. Best Buy Co., Inc. has a 12 month low of $32.20 and a 12 month high of $62.36. The stock has a market cap of $18.50 billion, a price-to-earnings ratio of 16.32 and a beta of 1.45. The stock’s 50 day moving average price is $57.52 and its 200-day moving average price is $51.72.

Best Buy Co. (NYSE:BBY) last posted its quarterly earnings results on Thursday, May 25th. The technology retailer reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.20. Best Buy Co. had a return on equity of 26.81% and a net margin of 3.01%. The firm had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.28 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that Best Buy Co., Inc. will post $3.89 EPS for the current year.

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Several equities analysts recently weighed in on BBY shares. SunTrust Banks, Inc. set a $70.00 price target on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Saturday, July 22nd. Bank of America Corporation reiterated a “buy” rating and issued a $68.00 price target (up previously from $58.00) on shares of Best Buy Co. in a report on Sunday, May 28th. Loop Capital reiterated a “buy” rating and issued a $72.00 price target on shares of Best Buy Co. in a report on Monday, July 10th. Telsey Advisory Group increased their price target on shares of Best Buy Co. from $53.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 26th. Finally, Piper Jaffray Companies set a $70.00 price target on shares of Best Buy Co. and gave the stock a “buy” rating in a report on Monday, June 26th. Four analysts have rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $56.76.

In related news, General Counsel Keith J. Nelsen sold 55,153 shares of Best Buy Co. stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $59.01, for a total value of $3,254,578.53. Following the sale, the general counsel now directly owns 89,306 shares in the company, valued at $5,269,947.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Patricia H. Walker sold 9,974 shares of Best Buy Co. stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $59.86, for a total value of $597,043.64. Following the completion of the sale, the insider now owns 24,122 shares in the company, valued at $1,443,942.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,917 shares of company stock worth $7,107,375. Company insiders own 1.21% of the company’s stock.

Best Buy Co. Company Profile

Best Buy Co, Inc is a provider of technology products, services and solutions. The Company offers products and services to the customers visiting its stores, engaging with Geek Squad agents, or using its Websites or mobile applications. It has operations in the United States, Canada and Mexico. The Company operates through two segments: Domestic and International.

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Institutional Ownership by Quarter for Best Buy Co. (NYSE:BBY)

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